The Invesco QQQ Trust ETF (QQQ), which tracks the performance of the Nasdaq 100 Index (NDX), was down 0.51% in Monday’s pre-market trading amid escalating tensions between the U.S. and Iran after President Donald Trump said on Sunday that the U.S. had seized an Iranian-flagged cargo ship in the Gulf of Oman. The move came after Iran refused to join another round of peace talks in Pakistan planned by the U.S.
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New trading tool for QQQ bullsMeanwhile, the QQQ ETF rose 1.31% on Friday in reaction to the news of the reopening of the Strait of Hormuz. However, sentiment reversed today after tensions in the Middle East resurfaced.
Overall, the QQQ ETF has risen 6.43% over the past five days and is up about 50% over the past year.
QQQ’s Key Holdings with Highest Upside/Downside Potential
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, QQQ is a Strong Buy. The Street’s average price target of $743.87 for the QQQ ETF implies an upside potential of 14.6%.
Currently, QQQ’s five holdings with the highest upside potential are:
Currently, QQQ’s top holdings with the highest downside potential are:
- Intel (INTC)
- Marvell Technology (MRVL)
- Monolithic Power (MPWR)
- Western Digital (WDC)
- Seagate Technology (STX)
Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF has the ability to outperform the broader market over the long term.